🇨🇦 Canada Proposes Updated Crypto Asset Guidelines

#Canada 's financial watchdog, the Office of the Superintendent of Financial Institutions (#OSFI ), is proposing changes to its capital and liquidity approach to crypto assets.

The proposed rules simplify institutions' handling of crypto risks, defining four asset categories and their capital treatment. Public consultations on two draft guidelines are open until Sept. 20, aiming to replace the existing advisory published in Aug. 2022.

The guidelines align with international standards and address the evolving risk environment, including new banking standards for crypto-asset exposure set for Jan. 1, 2025.

The goal is to provide clarity to deposit-taking institutions and insurers on how to treat crypto assets regarding capital and liquidity.

#Binance
#crypto2023

New Offer for #Cryptocurrencies from Canada!

While many countries are regulating cryptocurrencies, one of these countries was Canada.

At this point, the Canadian Financial Institutions Inspectorate (#OSFI ) made new recommendations regarding cryptocurrencies.

“Cryptocurrencies need to be divided into two groups. One of these groups is #tokenized traditional assets and stablecoins, and the second is unsupported cryptocurrencies.

And banks are required to have an exposure cap of no more than 1% for unsupported #crypto assets.”